The astonishing success of the Asian beauty industry over the past few years has caught everyone’s attention. South Korea’s K-beauty trend is a cult phenomenon not just in the east but in the west too, gaining followers the world over and helping to create a market estimated to be worth over $13 billion.
Raft of innovation
This dramatic rise has propelled other countries to move out of their comfort zones to defend their markets with a raft of innovation. China and Japan for instance, with their respective C- and J-beauty offerings, have grown their beauty sectors significantly in recent years with China, in particular, increasing at a steady pace even through the recession.
Indonesia also recently announced plans to uplift the size of its cosmetics industry to meet demand for domestically-made products – both at home and abroad – and as a result there are huge opportunities for companies operating in the beauty arena to take advantage of this growth – providing they know where to start.
Perfect learning environment
Helpfully, the educational programme at this year’s in-cosmetics Korea, from 26 to 28 June in Seoul, provides the perfect learning environment, offering insights and guidance on how companies can tap into trends and opportunities in both South Korea and the wider Asian and global sectors. In fact, country markets will be the key focus of the Marketing Trends and Regulations presentations delivered throughout the three-day event.
- Skincare trends in Asia; seeking opportunities across a diverse region by Sachi Kimura of Euromonitor International will look at statistics and consumer insights to identify differences between the countries across Asia; the session will explore similarities between regions such as changes in consumer purchasing behaviour and the rise of male grooming, and how these might be leveraged.
- Chinese Beauty Trends is the topic of Kantar World Panel’s presentation, while Jason Chan from REACH24H Consulting Group will focus on Decoding the latest Chinese cosmetics regulations: filing policy and cosmetic supervision & administration regulations (CSAR), explaining the difference between filing and registration, and the effect current regulations have on cosmetic companies.
- Japanese beauty takes centre stage when Florence Bernardin, from Information et Inspiration leads a session on The new beauty innovations in the Japanese Market, highlighting a shift towards simplicity, minimalism, natural and organic. Kaori Amaha from Shiseido, meanwhile, takes a closer look, revealing six key influences on the market.
- Day Two sees Florence Bernadin take the floor again when she examines How Halal Beauty is redefining the Asian Cosmetic Market – Focus on Indonesia and Malaysia and explains how these dynamic markets are redefining beauty as local, halal or insta-friendly.
Korea is also the subject of four tailored presentations:
- The first Korean Advertisement Regulations delivered by SooYoung Chin from Chin Soo Young Consulting will look at cosmetic advertising as well as compliance requirements.
- Denise Herich from The Benchmarking Company will present a session exploring US beauty consumers’ expectations of K-Beauty. She will reveal original research into purchase motivators, product assortment, ingredients and benefits, plus insights on how Korean brands can grab the attention of US beauty shoppers.
- Meanwhile, Mike Sohn from the KCII (Korea Cosmetics Industry Institute) presents a case study on Korean cosmetic brand strategies in China, looking particularly at the Chinese market – with a focus on policies, consumers and distribution – and how K-beauty brands can comply as China reframes regulations.
- Finally, a session from Sumit Chopra of GlobalData will evaluate Innovation trends and opportunities in the South Korea haircare market, including the ingredients, textures and individualism that are driving the market and how these differ from the rest of the world.
Looking beyond Asia
For event attendees wanting to look beyond Asia, Sumit Chopra is on stage again to present The Evolving European Beauty Landscape, this time focusing on trends such as wellness, customisation, age management and online influence, and their impact on claims and innovation. While Jennifer Stansbury from The Benchmarking Company examines the US market and How to be claims compliant – when and why to use claims to reinforce sell-through and minimise legal risk.
In addition to the Marketing Trends & Regulations presentations, a schedule of free-to-attend Technical Seminars will provide delegates with the opportunity to discover new approaches to cosmetic product development. Running alongside will be a programme of Ingredient Regulations, Science & Technology Seminars organised by the KCII, while the Formulation Lab will also make a return to in-cosmetics Korea, with personal care ingredient experts offering lab staff from cosmetic manufacturers the secrets to creating winning formulations.